TD Asset Management Inc
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 10, 2026), TD Asset Management Inc reported 1,227 stock positions worth $124.3 billion. Its top holding was Royal Bank of Canada (RY) at 4.3% of the portfolio, followed by Nvidia (NVDA, 4.2%) and Apple (AAPL, 3.7%). Compared with Q3 2025, it opened 75 new positions, sold out of 80, added to 555 and reduced 549. The biggest buy was Alphabet Class A (GOOGL, shares +13%) and the biggest sale Meta Platforms Class A (META, shares −18%).
- Most Recent 13F
- Q2 2026
- Location
- Toronto, A6
- CIK
- 0001056053
- Portfolio Value
- $124.3B (Q4 2025)
- SEC Filing
- 0001193125-26-044857 ↗ filed Feb 10, 2026
Holdings Value
Holdings 1,227 stocks · $124.3B
| RY Royal Bank of Canada | 4.27% | 31,066,800 | $5.3B | Reduce -2.3% |
| NVDA Nvidia Corp. | 4.21% | 28,029,008 | $5.2B | Reduce -1.0% |
| AAPL Apple Inc. | 3.72% | 16,985,985 | $4.6B | Add +4.8% |
| MSFT Microsoft Corp. | 3.64% | 9,346,429 | $4.5B | Reduce -0.8% |
| TD Toronto-Dominion Bank | 2.85% | 37,596,747 | $3.5B | Reduce -0.0% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 2.03% | 19,372,601 | $2.5B | Add +1.5% |
| AVGO Broadcom Inc. | 1.97% | 7,067,018 | $2.4B | Reduce -4.8% |
| GOOGL Alphabet Inc. Class A | 1.76% | 7,000,907 | $2.2B | Add +13.0% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 1.66% | 22,700,518 | $2.1B | Reduce -0.2% |
| AMZN Amazon.com Inc. | 1.54% | 8,275,670 | $1.9B | Add +0.3% |
| META Meta Platforms Inc. Class A | 1.53% | 2,873,581 | $1.9B | Reduce -17.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.52% | 2,772,002 | $1.9B | Add +3.6% |
| ENB Enbridge Inc. | 1.51% | 39,271,765 | $1.9B | Reduce -1.9% |
| BN Brookfield Corp. | 1.32% | 35,763,047 | $1.6B | Reduce -2.4% |
| AEM Agnico Eagle Mines Ltd. | 1.32% | 9,665,456 | $1.6B | Add +1.7% |
| JPM JPMorgan Chase & Co. | 1.28% | 4,931,716 | $1.6B | Reduce -2.9% |
| SHOP Shopify Inc. Class A | 1.13% | 8,713,762 | $1.4B | Add +2.2% |
| MFC Manulife Financial Corp. | 1.12% | 38,181,297 | $1.4B | Add +1.4% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 1.11% | 18,674,585 | $1.4B | Add +1.7% |
| CP Canadian Pacific Kansas City | 1.10% | 18,598,991 | $1.4B | Reduce -0.2% |
| GOOG Alphabet Inc. Class C | 1.07% | 4,238,699 | $1.3B | Add +0.3% |
| CNQ Canadian Natural Resources | 1.04% | 37,945,726 | $1.3B | Reduce -2.5% |
| LLY Eli Lilly & Co. | 1.02% | 1,184,182 | $1.3B | Add +30.6% |
| TRP TC Energy Corp. | 0.93% | 20,868,772 | $1.2B | Add +6.3% |
| CNI Canadian Natl Railway Co. | 0.91% | 11,374,457 | $1.1B | Reduce -0.8% |
| V Visa Inc. Class A | 0.89% | 3,161,425 | $1.1B | Reduce -2.7% |
| SU Suncor Energy Inc. | 0.82% | 23,040,499 | $1.0B | Reduce -0.6% |
| SLF Sun Life Financial Inc. | 0.77% | 15,344,924 | $959.1M | Reduce -2.4% |
| ABBV Abbvie Inc. | 0.76% | 4,160,516 | $950.6M | Reduce -2.3% |
| B Barrick Mining Corp. | 0.72% | 20,395,667 | $889.6M | Add +5.6% |
| WPM Wheaton Precious Metals Corp. | 0.69% | 7,285,275 | $857.6M | Add +0.5% |
| BAM Brookfield Asset Mgmt-A | 0.67% | 15,769,066 | $827.1M | Add +2.0% |
| EFA iShares MSCI Eafe ETF | 0.66% | 8,500,255 | $816.3M | Reduce -2.1% |
| AXP American Express Co. | 0.59% | 1,997,465 | $739.0M | Reduce -2.1% |
| FTS Fortis Inc. | 0.57% | 13,523,672 | $704.0M | Reduce -0.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.55% | 4,472,493 | $687.0M | Reduce -1.4% |
| WCN Waste Connections Inc. | 0.54% | 3,845,277 | $675.2M | Add +0.1% |
| TSLA Tesla Inc. | 0.54% | 1,491,144 | $670.6M | Add +1.6% |
| COST Costco Wholesale Corp. | 0.52% | 752,300 | $648.7M | Reduce -19.0% |
| QQQ Invesco QQQ Trust Series 1 | 0.51% | 1,039,438 | $638.5M | Reduce -0.3% |
| MCK McKesson Corp. | 0.50% | 753,760 | $618.3M | Reduce -1.4% |
| TRI Thomson Reuters Corp. | 0.50% | 4,664,372 | $616.3M | Add +0.7% |
| BKNG Booking Holdings Inc. | 0.49% | 114,408 | $612.7M | Add +3.2% |
| XOM Exxon Mobil Corp. | 0.46% | 4,786,807 | $576.0M | Add +2.1% |
| APH Amphenol Corp. Class A | 0.44% | 4,088,713 | $552.5M | Add +105.7% |
| NTR Nutrien Ltd. | 0.44% | 8,928,534 | $551.8M | Add +21.2% |
| HD Home Depot Inc. | 0.44% | 1,579,645 | $543.6M | Add +14.0% |
| KLAC KLA Corp. | 0.40% | 414,081 | $503.1M | Reduce -7.8% |
| HWM Howmet Aerospace Inc. | 0.40% | 2,427,626 | $497.7M | Reduce -3.8% |
| GEV GE Vernova Inc. | 0.40% | 755,019 | $493.5M | Reduce -5.8% |
| MA Mastercard Inc. Class A | 0.39% | 852,349 | $486.6M | Reduce -3.6% |
| TU Telus Corp. | 0.39% | 36,688,032 | $484.2M | Reduce -0.5% |
| HLT Hilton Worldwide Holdings Inc. | 0.36% | 1,557,533 | $447.4M | Reduce -3.6% |
| CW Curtiss-Wright Corp. | 0.34% | 774,195 | $426.8M | Reduce -2.2% |
| MCD McDonald's Corp. | 0.34% | 1,394,897 | $426.3M | Add +9.1% |
| NFLX Netflix Inc. | 0.34% | 4,478,885 | $419.9M | Reduce -16.9% |
| CRH CRH PLC | 0.33% | 3,328,383 | $415.4M | Add +20.6% |
| EVR Evercore Inc. Class A | 0.33% | 1,214,726 | $413.3M | Add +2.7% |
| GILD Gilead Sciences Inc. | 0.33% | 3,357,740 | $412.1M | Reduce -2.0% |
| FNV Franco-Nevada Corp. | 0.33% | 1,959,620 | $406.7M | Reduce -3.5% |
| TMO Thermo Fisher Scientific Inc. | 0.33% | 697,688 | $404.3M | Add +76.6% |
| CCJ Cameco Corp. | 0.32% | 4,370,884 | $400.8M | Reduce -5.5% |
| EZU iShares MSCI Eurozone ETF | 0.32% | 6,220,643 | $398.7M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.32% | 789,638 | $396.9M | Reduce -9.2% |
| EMA Emera Inc. | 0.31% | 7,700,183 | $380.0M | Reduce -0.2% |
| QSR Restaurant Brands Intern | 0.30% | 5,544,780 | $378.9M | Add +0.7% |
| LNG Cheniere Energy Inc. | 0.28% | 1,771,967 | $344.5M | Reduce -8.3% |
| PGR Progressive Corp. | 0.28% | 1,503,026 | $342.3M | Add +19.0% |
| IMO Imperial Oil Ltd. | 0.27% | 3,898,254 | $337.2M | Reduce -12.8% |
| URI United Rentals Inc. | 0.27% | 411,380 | $332.9M | Reduce -15.1% |
| RCI Rogers Communications Inc. Class B | 0.26% | 8,540,114 | $322.8M | Add +2.3% |
| JNJ Johnson & Johnson | 0.26% | 1,558,541 | $322.5M | Add +2.3% |
| CAT Caterpillar Inc. | 0.25% | 549,364 | $314.7M | Add +137.4% |
| AMAT Applied Materials Inc. | 0.25% | 1,215,398 | $312.3M | Reduce -18.7% |
| ETR Entergy Corp. | 0.25% | 3,368,246 | $311.3M | Add +1.8% |
| REGN Regeneron Pharmaceuticals | 0.25% | 397,552 | $306.9M | Add +6.2% |
| COR Cencora Inc. | 0.24% | 887,846 | $299.9M | Add +178.7% |
| QCOM Qualcomm Inc. | 0.24% | 1,716,382 | $293.6M | Reduce -12.6% |
| AMD Advanced Micro Devices | 0.23% | 1,360,086 | $291.3M | Add +5.5% |
| TMUS T-Mobile US Inc. | 0.23% | 1,423,955 | $289.1M | Reduce -35.3% |
| CVE Cenovus Energy Inc. | 0.23% | 16,995,459 | $287.9M | Add +3.6% |
| ACN Accenture PLC Class A | 0.23% | 1,047,474 | $281.0M | Add +51.8% |
| WMT Walmart Inc. | 0.23% | 2,515,399 | $280.2M | Reduce -3.9% |
| GE General Electric filed as GE AEROSPACE | 0.22% | 906,445 | $279.2M | Reduce -0.5% |
| ANET Arista Networks Inc. | 0.22% | 2,078,402 | $272.3M | Reduce -14.1% |
| LRCX Lam Research Corp. | 0.22% | 1,570,447 | $268.8M | Reduce -35.2% |
| MGA Magna International Inc. | 0.20% | 4,753,403 | $253.7M | Reduce -7.3% |
| CSCO Cisco Systems Inc. | 0.20% | 3,269,381 | $251.8M | Add +5.1% |
| CL Colgate-Palmolive Co. | 0.20% | 3,176,651 | $251.0M | Add +9.1% |
| TT Trane Technologies PLC | 0.20% | 638,398 | $248.5M | Reduce -16.7% |
| YUM Yum! Brands Inc. | 0.20% | 1,640,997 | $248.3M | Reduce -4.9% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.20% | 3,067,655 | $247.3M | Reduce -43.0% |
| ORCL Oracle Corp. | 0.20% | 1,258,046 | $245.2M | Reduce -40.2% |
| RCL Royal Caribbean Cruises Ltd. | 0.20% | 877,659 | $244.8M | Add +29.7% |
| ULTA Ulta Beauty Inc. | 0.20% | 404,237 | $244.6M | Reduce -6.5% |
| BIP Brookfield Infrastructure Pa | 0.20% | 7,015,901 | $244.2M | Add +3.8% |
| GS Goldman Sachs Group Inc. | 0.20% | 277,611 | $244.0M | Add +59.7% |
| HCA HCA Healthcare Inc. | 0.20% | 522,648 | $244.0M | Reduce -7.0% |
| APP AppLovin Corp. Class A | 0.20% | 359,952 | $242.5M | Reduce -19.3% |
| PBA Pembina Pipeline Corp. | 0.19% | 6,289,540 | $239.9M | Reduce -17.1% |
Other holdings (5): bonds, preferreds, convertibles and warrants · $5.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BRUKER CORP (BRKR 6.375 09/01/28) | 6.375 PREF SER A | 6,864 | $2.5M | No change |
| NOVANTA INC (NOVT 6.5 11/01/28) | UNIT 11/01/2028 | 40,404 | $2.2M | New |
| IAUX.WS I-80 Gold Corp. -26 | *W EXP 11/16/202 | 400,000 | $368K | No change |
| RVMDW Revolution Medicines Inc.-28 | *W EXP 12/17/202 | 40,636 | $38K | No change |
| WGSWW Genedx Holdings Corp. | *W EXP 07/22/202 | 34,884 | $2K | No change |
Total filed on the 13F, all lines: $124.3B.
Portfolio Sells Q3 2025 → Q4 2025
| META Meta Platforms Inc. Class A | Reduce -17.6% | 1.53% | −0.55 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -89.0% | 0.06% | −0.51 |
| MSFT Microsoft Corp. | Reduce -0.8% | 3.64% | −0.33 |
| ORCL Oracle Corp. | Reduce -40.2% | 0.20% | −0.28 |
| MSI Motorola Solutions Inc. | Reduce -53.6% | 0.14% | −0.22 |
| RSG Republic Services Inc. | Reduce -62.5% | 0.11% | −0.20 |
| TMUS T-Mobile US Inc. | Reduce -35.3% | 0.23% | −0.20 |
| NFLX Netflix Inc. | Reduce -16.9% | 0.34% | −0.19 |
| COST Costco Wholesale Corp. | Reduce -19.0% | 0.52% | −0.18 |
| ABT Abbott Laboratories | Reduce -45.5% | 0.17% | −0.16 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -43.0% | 0.20% | −0.16 |
| ARES Ares Management Corp. Class A | Reduce -92.3% | 0.01% | −0.13 |
| ENB Enbridge Inc. | Reduce -1.9% | 1.51% | −0.13 |
| SYK Stryker Corp. | Reduce -38.2% | 0.17% | −0.12 |
| RACE Ferrari NV | Reduce -66.2% | 0.04% | −0.11 |
| URI United Rentals Inc. | Reduce -15.1% | 0.27% | −0.11 |
| LNG Cheniere Energy Inc. | Reduce -8.3% | 0.28% | −0.09 |
| ETN Eaton Corp. PLC | Reduce -21.4% | 0.17% | −0.09 |
| TECK Teck Resources Ltd.-CLS B | Reduce -51.0% | 0.10% | −0.09 |
| NVDA Nvidia Corp. | Reduce -1.0% | 4.21% | −0.08 |
| TU Telus Corp. | Reduce -0.5% | 0.39% | −0.08 |
| EA Electronic Arts Inc. | Reduce -79.3% | 0.02% | −0.07 |
| DE Deere & Co. | Reduce -33.3% | 0.15% | −0.07 |
| ANET Arista Networks Inc. | Reduce -14.1% | 0.22% | −0.07 |
| APP AppLovin Corp. Class A | Reduce -19.3% | 0.20% | −0.07 |
| PAYX Paychex Inc. | Reduce -68.3% | 0.02% | −0.06 |
| TT Trane Technologies PLC | Reduce -16.7% | 0.20% | −0.06 |
| DHI D.R. Horton Inc. | Reduce -41.4% | 0.06% | −0.06 |
| SE Sea Ltd.-ADR | Reduce -34.6% | 0.05% | −0.06 |
| IMO Imperial Oil Ltd. | Reduce -12.8% | 0.27% | −0.06 |
| MCO Moody's Corp. | Reduce -28.5% | 0.18% | −0.06 |
| PBA Pembina Pipeline Corp. | Reduce -17.1% | 0.19% | −0.06 |
| UBER Uber Technologies Inc. | Reduce -4.8% | 0.19% | −0.05 |
| HOLX Hologic Inc. | Reduce -63.8% | 0.03% | −0.05 |
| SPOT Spotify Technology SA | Reduce -21.1% | 0.09% | −0.05 |
| GNTX Gentex Corp. | Reduce -38.1% | 0.05% | −0.05 |
| LRCX Lam Research Corp. | Reduce -35.2% | 0.22% | −0.05 |
| ORLY O'reilly Automotive Inc. | Reduce -7.3% | 0.15% | −0.04 |
| EWY iShares MSCI South Korea ETF | Reduce -51.9% | 0.06% | −0.04 |
| FNV Franco-Nevada Corp. | Reduce -3.5% | 0.33% | −0.04 |
| BN Brookfield Corp. | Reduce -2.4% | 1.32% | −0.04 |
| FAST Fastenal Co. | Reduce -4.6% | 0.13% | −0.04 |
| RBLX Roblox Corp. Class A | Reduce -20.9% | 0.03% | −0.04 |
| ABBV Abbvie Inc. | Reduce -2.3% | 0.76% | −0.04 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -9.2% | 0.32% | −0.04 |
| VEEV Veeva Systems Inc. Class A | Reduce -18.2% | 0.05% | −0.03 |
| SAP Sap SE-Sponsored ADR | Reduce -22.7% | 0.08% | −0.03 |
| T AT&T Inc. | Reduce -12.0% | 0.11% | −0.03 |
| NOW ServiceNow Inc. | Reduce -3.0% | 0.13% | −0.03 |
| PG The Procter & Gamble Co. | Reduce -9.8% | 0.15% | −0.03 |
Portfolio Buys Q3 2025 → Q4 2025
| GOOGL Alphabet Inc. Class A | Add +13.0% | 1.76% | +0.54 |
| LLY Eli Lilly & Co. | Add +30.6% | 1.02% | +0.46 |
| AAPL Apple Inc. | Add +4.8% | 3.72% | +0.36 |
| APH Amphenol Corp. Class A | Add +105.7% | 0.44% | +0.24 |
| GOOG Alphabet Inc. Class C | Add +0.3% | 1.07% | +0.23 |
| B Barrick Mining Corp. | Add +5.6% | 0.72% | +0.20 |
| TMO Thermo Fisher Scientific Inc. | Add +76.6% | 0.33% | +0.17 |
| MFC Manulife Financial Corp. | Add +1.4% | 1.12% | +0.16 |
| CAT Caterpillar Inc. | Add +137.4% | 0.25% | +0.16 |
| COR Cencora Inc. | Add +178.7% | 0.24% | +0.16 |
| BNS Bank of Nova Scotia | Add +1.7% | 1.11% | +0.14 |
| WELL Welltower Inc. | Add +289.2% | 0.14% | +0.10 |
| SHOP Shopify Inc. Class A | Add +2.2% | 1.13% | +0.10 |
| NTR Nutrien Ltd. | Add +21.2% | 0.44% | +0.09 |
| ACN Accenture PLC Class A | Add +51.8% | 0.23% | +0.09 |
| EXE Expand Energy Corp. | Add +263.1% | 0.12% | +0.08 |
| GS Goldman Sachs Group Inc. | Add +59.7% | 0.20% | +0.08 |
| REGN Regeneron Pharmaceuticals | Add +6.2% | 0.25% | +0.08 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +3.6% | 1.52% | +0.07 |
| CMG Chipotle Mexican Grill Inc. | Add +139.3% | 0.12% | +0.07 |
| CRH CRH PLC | Add +20.6% | 0.33% | +0.07 |
| AMZN Amazon.com Inc. | Add +0.3% | 1.54% | +0.07 |
| AMD Advanced Micro Devices | Add +5.5% | 0.23% | +0.06 |
| JNK SS SPDR BB High Yield Bond | New | 0.06% | +0.06 |
| TTE Totalenergies SE | Add +505.5% | 0.07% | +0.06 |
| TRP TC Energy Corp. | Add +6.3% | 0.93% | +0.06 |
| ODFL Old Dominion Freight Line | Add +45.7% | 0.15% | +0.06 |
| MU Micron Technology Inc. | Add +1.5% | 0.13% | +0.05 |
| MRK Merck & Co. Inc. | Add +7.3% | 0.19% | +0.05 |
| CVLT Commvault Systems Inc. | Add +14047.5% | 0.04% | +0.04 |
| GLW Corning Inc. | Add +22.3% | 0.17% | +0.04 |
| XOM Exxon Mobil Corp. | Add +2.1% | 0.46% | +0.03 |
| CHRW C.H. Robinson Worldwide Inc. | Add +778.8% | 0.04% | +0.03 |
| PAAS Pan American Silver Corp. | Add +9.6% | 0.10% | +0.03 |
| WPM Wheaton Precious Metals Corp. | Add +0.5% | 0.69% | +0.03 |
| CAE Cae Inc. | Add +82.5% | 0.07% | +0.03 |
| JNJ Johnson & Johnson | Add +2.3% | 0.26% | +0.03 |
| CSCO Cisco Systems Inc. | Add +5.1% | 0.20% | +0.03 |
| MCD McDonald's Corp. | Add +9.1% | 0.34% | +0.03 |
| NEM Newmont Corp. | Add +10.0% | 0.12% | +0.03 |
| RCI Rogers Communications Inc. Class B | Add +2.3% | 0.26% | +0.03 |
| INTC Intel Corp. | Add +20.3% | 0.10% | +0.02 |
| POOL Pool Corp. | Add +1474.1% | 0.03% | +0.02 |
| PGR Progressive Corp. | Add +19.0% | 0.28% | +0.02 |
| JKHY Jack Henry & Associates Inc. | Add +9.8% | 0.09% | +0.02 |
| AEM Agnico Eagle Mines Ltd. | Add +1.7% | 1.32% | +0.02 |
| BGSI Boyd Group Services Inc. | New | 0.02% | +0.02 |
| AGX Argan Inc. | Add +47.6% | 0.05% | +0.02 |
| KGC Kinross Gold Corp. | Add +4.7% | 0.13% | +0.02 |
| BTE Baytex Energy Corp. | Add +176.3% | 0.03% | +0.02 |
Notes & Other Activity Q3 2025 → Q4 2025
| NOVANTA INC (NOVT 6.5 11/01/28) | UNIT 11/01/2028 | New | 40,404 | $2.2M |
| SONWQ Gores Metropoulos II -CW28 | *W EXP 01/18/202 | Sold out | 180,000 | $2Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,211 | $115.4B | NVDA, RY, AAPL, TD, BMO |
| Q1 2026 | 1,225 | $123.2B | NVDA, RY, AAPL, TD, MSFT |
| Q4 2025 | 1,227 | $124.3B | RY, NVDA, AAPL, MSFT, TD |
| Q3 2025 | 1,230 | $123.1B | NVDA, MSFT, RY, AAPL, TD |
| Q2 2025 | 1,190 | $117.2B | MSFT, NVDA, RY, SPY, AAPL |
| Q1 2025 | 1,213 | $108.6B | AAPL, RY, SPY, MSFT, NVDA |
| Q4 2024 | 1,239 | $113.0B | AAPL, MSFT, SPY, RY, NVDA |
| Q3 2024 | 1,378 | $113.3B | MSFT, AAPL, RY, SPY, NVDA |
| Q2 2024 | 1,354 | $107.2B | MSFT, SPY, NVDA, AAPL, RY |
| Q1 2024 | 1,372 | $107.5B | MSFT, SPY, RY, NVDA, AAPL |